Electric vehicle maker Nikola has filed for Chapter 11 bankruptcy protection, it said Wednesday.Company executives said in October that the EV maker only had enough cash to operate until Q1 2025.Nikola faced fraud allegations in 2020, leading to investigations and founder Trevor Milton's conviction.Troubled electric truck maker Nikola has filed for Chapter 11 bankruptcy protection, the company said Wednesday. Nikola's CEO, Steve Girsky, said in a statement that "various market and macroeconomic factors" had ...

In this articleNKLAU.S. Nikola's logo is pictured at an event held to present CNH's new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event in Turin, Italy, on Dec. 3, 2019.Massimo Pinca | ReutersDETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations.The filing marks the finale of the Phoenix-based com ...

Nikola to pursue value-maximizing sale transactions for its operations PHOENIX, Feb. 19, 2025 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today announced that the Company and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Nikola has also filed a motion seeking authori ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

U.S. Nikola's logo is pictured at an event held to present CNH's new full-electric and Hydrogen fuel-cell battery trucks in partnership with U.S. Nikola event in Turin, Italy, December 3, 2019.DETROIT – Shares of Nikola closed Thursday down 27.8% after a report that the embattled electric truck maker is exploring options to sell parts or all of the business.The stock closed Thursday at 85 cents apiece after hitting a new 52-week low of 76 cents prior to the end of trading.Bloomberg News reported the potenti ...

West Sacramento station marks HYLA's first modular refueling station in Northern California A significant step in HYLA's plan to connect current HYLA stations to northern central California This new HYLA station will be commercially operational in January 2025 PHOENIX , Dec. 18, 2024 /PRNewswire/ -- Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, proudly announces the securing of a new HYLA station locat ...

Plug Power and Nikola could be good longshot plays in this nascent market.Hydrogen power is often hailed as the ideal green alternative to fossil fuels since it can be produced using renewable energy like wind or solar to produce the electricity needed to split water into its component parts of hydrogen and oxygen. The hydrogen that is extracted is then used to power an engine and the only byproduct of the burned fuel is water. But being an ideal fuel hasn't been enough of an incentive for companies in this ...

The trucking company is making progress in developing its innovative alternative fuel trucks.Nikola (NKLA -4.45%) stock investors received a quarterly update from the company that showed massive losses on the bottom line.*Stock prices used were the afternoon prices of Oct. 30, 2024. The video was published on Nov. 1, 2024. ...

I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry. I am located in Germany and have worked quite some time as an auditor for Pri ...

Financial Data and Key Metrics Changes - In Q3 2024, the company reported gross revenue of $33 million, an increase from $31 million in the previous quarter, primarily due to higher wholesale deliveries [29] - The company experienced a gross loss of $62 million in Q3, compared to a gross loss of $55 million in Q2, with the return of BEVs being a significant factor [31] - Unrestricted cash declined by $58 million from Q2, ending the quarter with $198 million, with cash burn for the quarter at $162 million [31][60] Business Line Data and Key Metrics Changes - The company wholesaled a record 88 hydrogen fuel cell electric trucks in Q3, up from 22% last quarter, and continues to dominate the heavy-duty fuel cell electric vehicle market in North America with over 90% market share [8][12] - The average selling price (ASP) for fuel cell vehicles was $361,000, down 7% from Q2, but the average ASP has held at approximately $370,000 over the last four quarters [30] - The BEV 2.0 has returned to the market with positive feedback, and 19 end fleets have accumulated over 715,000 road miles since its return [20][24] Market Data and Key Metrics Changes - Year-to-date, the in-service fleets have grown 78% to 16 distinct end fleets from 9 in Q1, indicating strong market adoption [10] - The company has accumulated over 4 million validation miles with its fuel cell and battery electric trucks, avoiding over 6,000 metric tons of CO2 emissions [7] - The total number of runs exceeding 400 miles before fueling for fuel cell electric vehicles increased to 285, up 48% from the previous quarter [19] Company Strategy and Development Direction - The company is focused on building momentum in the zero-emission ecosystem and is the only OEM offering two zero-emission powertrains on one commercial Class 8 platform in North America [9] - The company reiterated its year-end guidance for fuel cell electric vehicle deliveries of 300 to 350 trucks, maintaining a flywheel-based business plan to build scale [11][33] - The company is actively seeking partnerships to support its capital needs and is looking to build a coalition of like-minded companies to advance zero-emission initiatives [42][44] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of winning national accounts and noted that customer feedback has been positive, with strong traction in the market [38][67] - The company is optimistic about the future, citing government incentives and the growing interest from automotive OEMs and industrial gas producers in hydrogen as a growth vector [68] - Management acknowledged the challenges of new technology adoption but expressed confidence in the company's unique position in the market [81] Other Important Information - The company has expanded its dealer network, bringing the total to 19 sales and service locations across the U.S. [15] - The company is making incremental improvements to its existing products and is actively working on next-generation products that will be more efficient [57] Q&A Session Summary Question: Long-term profitability outlook - Management stated that they are optimizing operations to ensure readiness for scaling and emphasized the importance of winning national accounts [38] Question: Profitability of FCEB vs. BEV - Management confirmed that both powertrains will be offered in the market, with BEVs expected to contribute positively to cash margins [40] Question: Capital partnerships - Management is actively seeking partners who value the company's initiatives and are interested in supporting the hydrogen economy [42][44] Question: Delivery trends and expectations for 2025 - Management indicated that there is more potential for wholesale deliveries in Q4 than currently guided, with discussions ongoing for 2025 [65][66] Question: Customer purchasing trends - Management noted that repeat customers are emerging, and the connection between Northern and Southern California will enable more sales [79]